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Wockhardt goes west, ties up with US firm

Bombay-based pharmaceutical company Wockhardt Limited has entered into a joint venture with Sidmak Laboratories Inc of New Jersey to market its products in the United States.

Announcing the tie-up today, Wockhardt's chairman and managing director H F Khorakiwala said the joint venture covers a series of 15 products to be launched in the United States between February 1999 and 2003.

The current sales of these products in the US alone are worth more than $10.5 billion and the joint venture aims to capture a share of at least $100 million.

The unique feature of this joint venture is that it is based on sharing both costs and profits. Moreover, all product labels will carry the names and logos of both Wockhardt and Sidmak.

The first product to be launched under this joint venture is Wockhardt's Ranitidine tablet. The launch quantities are likely to shipped in the next few days. The product launch is scheduled for February.

The list of products covered under this agreement may be expanded depending on the product pipeline of both partners.

UNI

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